VerticalBuyer, Inc. Registration Statement Effective; Shares To Be Distributed By CSP, Inc.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 11, 2000 VerticalBuyer, Inc., a company involved in the development of industry-specific Internet websites, announced today that its registration statement filed with the Securities and Exchange Commission (SEC) has been declared effective. The Company has registered approximately 2 million of its common shares and 3.2 million shares underlying warrants. Most of the shares and warrants were previously sold to CSP (1) (Certified Systems Professional) An earlier award for successful completion of an ICCP examination in systems development. See ICCP. (2) (Commerce Service P , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CSPI CSPI Center for Science in the Public Interest CSPI Corporate Service Price Index CSPI Cumulative Schedule Performance Index ). CSPI intends to distribute on October 11, 2000, approximately 720,000 shares of VerticalBuyer's stock to its shareholders on the basis of one common share of VerticalBuyer for every five shares owned by CSPI shareholders. The Company said that it has applied to trade on the Over-the-Counter Bulletin Board under the proposed ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors (VERB:OTCBB OTCBB See OTC Bulletin Board (OTCBB). ). About CSP Inc.: Based in Billerica, Massachusetts and founded in 1968, CSP Inc. (NASDAQ: CSPI) and its subsidiaries develop and market Internet software for e-commerce solutions, image processing software, network management integration services, and high-performance computer systems. The MultiComputer Division supplies high-performance computer systems for a broad array of defense applications, including radar, sonar and surveillance signal processing. The Company's MODCOMP MODCOMP Modular Computer Systems , Inc. subsidiary, founded in 1970, is a leading provider of Internet software solutions and systems integration. MODCOMP works with third parties to develop customized application solutions in the global e-commerce markets and has offices in the U.S., U.K., France and Germany. About VerticalBuyer: VerticalBuyer, Inc. is the holding company for a network of Internet sites formed to utilize B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. opportunities, initially within the global commercial lighting and electrical markets. The Company's primary focus is on servicing the needs of small to medium-sized buyers. VerticalBuyer's first e-commerce site, www.lightingbuyer.com, was recently launched. Statements in this press release that relate to future plans, objectives, expectations, performance, events and the like are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. |
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